Fastenal places B2B ecommerce on the quick observe

“Our ecommerce staff hit a milestone,” Fastenal CEO Dan Florness instructed analysts on the corporate’s latest first quarter earnings name. “In March, we exceeded $100 million in income for the primary time.”

For the primary quarter ended March 31, Fastenal — which incorporates in its complete digital gross sales footprint the gross sales occurring on, by EDI and by way of internet-connected merchandising machines at buyer places and vendor-managed stock packages — elevated complete gross sales by 20.3% to $1.704 billion from $1.417 billion within the first quarter of 2021. Internet earnings within the first quarter had been $269.6 million in contrast with $210.6 million within the first quarter of 2021.

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